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DUBLIN--(BUSINESS WIRE)--Sep 30, 2022--
The "Malaysia Wiring Devices Market Outlook (2021-2027): Market Forecast By Types (Switches, Sockets, Wire Connectors & Others), By Verticals (Residential, Commercial, Industrial & Public And Transport Infrastructure) And Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
Malaysia Wiring Devices Market revenue size is projected to grow at a CAGR of 6.5% during 2021-2027
The outbreak of COVID-19 in 2020 resulted in decline of market revenues due to curtailment measures including nation-wide lockdowns, which in turn led to supply chain disruptions. However, as economic conditions normalise and commercial activities resume, the market is expected to recover by 2022 and grow thereafter due to rising investments in public infrastructure and residential projects, which are expected to strengthen the wiring devices market during the forecast period.
Malaysia Wiring Devices Market report thoroughly covers market by types. The market report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Malaysia Wiring Devices Market Synopsis
Malaysia's wiring devices market grew modestly between 2017 and 2019, owing to the country's developing healthcare tourism sector. Through initiatives outlined in the Malaysia Healthcare Travel Industry Blueprint 2021-2025, government health tourism sector to generate direct revenue of RM800 million in 2022 and RM1.7 billion in 2025, thus strengthening the wire devices market in the forecast period.
Furthermore, rising investments in robust infrastructure development projects such as the Centro Mall project, the Bintulu Methanol Plant, and the ALIX Residences, among others, would act as a key catalyst for the overall growth of the wiring devices market.
Market by Verticals Analysis
By Verticals, commercial sector held a highest market revenue share owing to its wide applicability in building wiring, the same trend is projected to persist in the coming years owing to government initiatives such as insight conference to promote and collaborate in the medical travel sector in Malaysia.
Further, the Asian area, National Affordable Housing Policy to provide affordable housing among others, would lead to high demand for wiring devices in the residential verticals in the upcoming years.
Key Highlights of the Report
Company Profiles
Key Attractiveness of the Report
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
By Types
By Verticals
For more information about this report visit https://www.researchandmarkets.com/r/b37aak
View source version on businesswire.com:https://www.businesswire.com/news/home/20220930005505/en/
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KEYWORD: ASIA PACIFIC MALAYSIA
INDUSTRY KEYWORD: UTILITIES OTHER CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE COMMERCIAL BUILDING & REAL ESTATE ENERGY CONSTRUCTION & PROPERTY BUILDING SYSTEMS
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 09/30/2022 12:09 PM/DISC: 09/30/2022 12:09 PM
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